Company Registration No. 11899346 (England and Wales)
VIGA INVESTMENT LIMITED
Unaudited accounts
for the year ended 31 March 2022
VIGA INVESTMENT LIMITED
Unaudited accounts
Contents
VIGA INVESTMENT LIMITED
Company Information
for the year ended 31 March 2022
Directors
Victor Afolabi
Adetutu Ibironke Afolabi
Company Number
11899346 (England and Wales)
Registered Office
C/O 35 BALFE STREET
BALFE STREET
LONDON
N1 9EB
UNITED KINGDOM
VIGA INVESTMENT LIMITED
Statement of financial position
as at
31 March 2022
Tangible assets
1,803,396
1,806,486
Investment property
5,038,516
4,921,182
Cash at bank and in hand
607,725
231,719
Creditors: amounts falling due within one year
-
(2,308)
Net current assets
607,725
229,411
Total assets less current liabilities
7,449,637
6,957,079
Creditors: amounts falling due after more than one year
(7,616,090)
(7,106,095)
Net liabilities
(166,453)
(149,016)
Called up share capital
100
100
Profit and loss account
(166,553)
(149,116)
Shareholders' funds
(166,453)
(149,016)
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2022 and were signed on its behalf by
Victor Afolabi
Director
Company Registration No. 11899346
VIGA INVESTMENT LIMITED
Notes to the Accounts
for the year ended 31 March 2022
VIGA INVESTMENT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11899346. The registered office is C/O 35 BALFE STREET, BALFE STREET, LONDON, N1 9EB, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
VIGA INVESTMENT LIMITED
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Land & buildings
Cost or valuation
At cost
At 1 April 2021
1,809,576
At 31 March 2022
1,809,576
Charge for the year
3,090
At 31 March 2022
1,803,396
At 31 March 2021
1,806,486
5
Investment property
2022
Fair value at 1 April 2021
4,921,182
At 31 March 2022
5,038,516
6
Creditors: amounts falling due within one year
2022
2021
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
4,307,075
4,161,080
Other creditors
3,309,015
2,945,015
8
Average number of employees
During the year the average number of employees was 0 (2021: 0).